White House hosts creator economy conference to discuss artificial intelligence and privacy | Wilnesh News

On Wednesday, the White House hosted 100 digital content creators and industry professionals to discuss the issue with key officials “Creator Economy” The industry is booming as social media platforms make it easier for users to monetize their content.

President Joe Biden attended the Creator Economy Conference, the first event hosted by the White House Office of Digital Strategy.

“You are the future,” Biden told influential people in the White House’s Indian Treaty Room, speaking without a teleprompter. “You are new possibilities. You are a breakthrough in the way we communicate.”

“That’s why I invited you to the White House, because I’m looking for a job,” he joked.

Other senior officials, including Treasury Undersecretary Wally Adeyemo and White House domestic policy adviser Neera Tanden, also attended.

They hear the concerns of influential people about their industry’s most pressing issues, Including artificial intelligence technology, fair wages, data privacy and the mental health impact of social media.

“These events ensure creators get the voice in Washington that traditional entertainment and media conglomerates have had for decades,” Franklin Graves, a technology policy attorney who attended the meeting, told CNBC.

“The legal and policy issues facing creators, brands and platforms in the creator economy are more nuanced and often cannot be resolved by existing regulations or agency action,” Graves said.

The content creation industry has grown explosively in recent years with the rise of influencer marketing, e-commerce and social media sites, allowing creators to monetize their work on platforms.

Goldman Sachs It is estimated that the creator economy will bring about a revenue opportunity of approximately US$250 billion in 2023, growing to approximately US$480 billion by 2027.

Goldman Sachs estimates that approximately 50 million people worldwide work as content creators. USA Census Bureau Social media is not tracked as a separate industry.

As the content creation industry grows, it creates challenges for lawmakers and White House officials in regulating Big Tech, social media and artificial intelligence.

Tik Tok Chinese capital The video-sharing app and one of the fastest-growing social media platforms has been at the center of controversy.

U.S. officials are increasingly concerned that the Chinese government’s business practices enable it to obtain data from TikTok, posing a threat to the privacy of American users.

In April, the president signed a bill requiring TikTok’s Chinese parent company ByteDance to sell the platform within the next year or face a nationwide ban in the United States

Biden faced almost immediate backlash from TikTok and some of its creators who rely on the platform for income.

In May, a group of TikTok creators sued The U.S. government has challenged a potential ban on TikTok.